Cameron branded 'all style but no substance' by influential magazine

David Cameron has been described as "all style but not enough substance", and his image as "intellectually vacuous" by one of the world's most influential news magazines.

Tory MPs gathering for their annual conference this weekend have been given a sharply critical assessment of Mr Cameron's performance by the Economist.

The latest issue of the 163-year-old weekly has a picture of a sheepish-looking Conservative leader on its cover above a headline that asks: "Who is David Cameron?"

Its main editorial raises awkward questions about the strategy he has followed in the 10 months since he took over from Michael Howard.

And it compares him unfavourably with Gordon Brown, arguing that the Chancellor has the kind of political substance that Mr Cameron appears to lack.

The magazine, which endorsed Labour in the last two elections, acknowledges that the Tories will open their conference in Bournemouth on Sunday with encouraging poll ratings that put them convincingly ahead of Labour for the first time in nearly 15 years.

And it admits that what Mr Cameron has done so far, including a photo-opportunity above the Arctic circle on a dogsled and his 'hug a hoodie' proposal for dealing with young louts, has been "politically successful" because it has improved the public's image of the party.

But the respected magazine, which sells more than one million copies a week and is studied carefully by politicians and business leaders around the world, also brands the Cameron strategy "intellectually vacuous".

It says: "Transforming the Tory image from selfish and mean to cuddly and green is not enough. Successful oppositions do not just wait for governments to collapse. They accelerate the process by showing that they are ready to take over."

Mr Cameron does not need to set out a detailed blueprint of policies, or say how much a Tory government would tax and spend if it wins power, the magazine suggests.

"What he must do, though, is define a clear philosophy and identity that will give voters a sense of what they are voting for and help shape Conservative policies. He also has to persuade voters that he leads a confident and united party.

"And he should move soon. By next summer, Labour will have a new leader. Until then the Government will be drifting and wrapped up in its own affairs.

"Mr Blair will have little authority and Mr Brown will have to wait as patiently as he can before attempting the difficult task of renewal in office.

"Mr Cameron, meanwhile, can use his husky hugging popularity to get his way against opponents within his party. This opportunity will not last long. Mr Cameron's moment is now."

The Economist calls on Mr Cameron to do three things to prove he has what it takes to lead the country before he takes his party to the polls, expected in 2009.

On the economy, it accepts Mr Cameron's claim that he cannot show his hand now on tax and spending.

But it delivers a pointed dig at Shadow Chancellor George Osborne by suggesting the Tories are not saying enough about reducing the size of the state or the burden of taxation.

"A Conservative party that is content with public spending running at 42 per cent of GDP is not doing its job.

"Mr Cameron should make it clear that his long-term aim is to see Government intrude less in people's lives and take less out of their pay packets," it says.

It urges Mr Cameron to exploit Gordon Brown's apparent reluctance to promote a greater role for private companies in delivering public services by offering to give more choice and power to people "who have very little of either".

On party reforms, the magazine urges Mr Cameron to do more to end the party's reputation as a "club for near-dead white males" by

"tightening his grip" on candidate selection.

And on foreign affairs, the magazine suggests Mr Cameron has not done enough to establish himself as a Prime Minister in waiting. Tellingly, it says he should "appear more statesmanlike than he has so far".

It criticises his recent keynote speech on foreign affairs, in which he criticised Mr Blair for his closeness to President George Bush, as an attempt to profit from the Prime Minister's unpopularity.

The Economist, which is highly influential in the United States, warns: "He needs to counter the perception on the other side of the Atlantic that he is anti-American."

It also criticises Mr Cameron for delivering the speech on the fifth anniversary of the Sep 11 attacks.

The Tory leader has invited American Senator John McCain, tipped as a favourite for the Republican nomination in the next US elections, to address the conference next week.

Earlier this year the Economist, a consistent supporter of Mr Blair in particular over the Iraq war, called on the Prime Minister to "quit while he is still ahead" and hand over power to Mr Brown.

Meanwhile, A senior Tory tore into Mr Blair and his Cabinet's record on sleaze yesterday.

Chris Grayling accused the Prime Minister of repeatedly breaking his own ministerial code during nearly a decade in power.

In a major speech, the Shadow Transport Secretary said Downing Street were almost certainly guilty of selling honours to wealthy individuals in return for multi-million pound backing of city academies.

The remarks came ahead of a mission statement to be unveiled by David Cameron today on 'cleaning up politics'.

Mr Grayling laid out Labour's litany of sleaze since 1997 - including the Bernie Ecclestone affair, the conduct of Peter Mandelson, John Prescott and David Blunkett and Mr Blair's appointment of millionaire Labour donors to the Lords - who later became Ministers.

The MP said he was not prejudging the outcome of the Scotland Yard investigation into the cash-for-peerages scandal.

But he added: '"It does appear that people representing No 10 sought to use honours as a way of bartering financial contributions to the Government’s Academy programme. That is utterly unacceptable and has done enormous damage to our honours system.

"The truth is that the trouble with the current Government is that they just don’t seem to think the rules apply to them."